I use MakeMKV to make an uncompressed rip of the blu-ray. In order to play this on your tv without audio loss you need to either build/buy a proper htpc or buy a streamer capable of bitstreaming DTS(MA), TrueHD and DDP. I believe some of the new popcorn hour streamers can do this and have decent interfaces for managing your collection. You can put a HD in one of these or hook up an external NAS. Here is a review of one. http://www.mediasmartserver.net/2011/12/20/review-pch-a300-review/

I currently don't have one of these yet but plan on getting that one or something similar. For now I use handbrake to take the MKV and make it into a mp4 which I stream through AppleTV2 to my avr. The visuals are good enough for me and the audio is "ok", but definitely lacks the LFE of the original.

But by then the new format will be pink-ray where each movie takes up 2TB of space and you will be in the same boat. LOL .. Do you really have that much media? And that price sounds way too high. You could use a large PC case to house us many as 8 Hard Drives. The 2TB Seagate can be had for $240 so for $2000 you could have about 16TB.

I didn't see a drive at that price. I was looking at some network media storage units. I currently have about 350 movies/concerts in about a 60% blu-ray and 40% DVD. Allowing for growth, 20 gig isn't too much. I read you can get about 25 blu-ray movies per terrabite.

But you're probably right about that Pink Ray, lol. when is the 4k media going to hit anyways?

I'd rather wait for the price of SSD's to drop dramatically. I don't really want to have to wait on booting a computer, or the added expense of tons of whirling drives spinning away all the time for nothing.